re: Could you ever see Social Security actually ending?

In real terms, yes. Nominally, not really. They'll just keep the currency printing spigots open while purchasing power of the welfare program continue to plummet.

quote:

---

ronricks

---

You are a nitwit eaten up with BDS.

Possibly a major overhaul which would screw the people that paid into it up to that point.

All they can do to save it is invest better.

quote:

---

Unless your plan allowed the government to keep forcing employed Americans to lend it money under its terms, AND have Americans believe it to be a "retirement plan," it won't just be Dems fear mongering it. A ton of GOPe's will chime in.

---

Fair.

Reader's digest version

1. Like Bush's idea, will require up front money. Grandfather out of SS current set up into the money you put in actually going into an account in YOUR NAME that you can control where it is invested. You want it in a money market for 60 years? Have at it. Funds? OK. Probably not individual stocks but hey.

2. This money would still be mandatory withdrawal just like SS now. And, only removable at retirement age, like SS now unless you die. If you die, this money will be treated like any other asset a person might have to leave to family which is benefit #1.

3. Yes, SOME citizens will STILL manage to frick this up. And, they'll manage to figure out how to invest so poorly, they are somehow worse off than if they'd just been in SS. HOWEVER>...........see #4

4. In all likelihood, the amount of returns generated by the majority of citizens will dwarf their current benefits situation.

So, how to use #3 and 4 together?

5. Calculate what the standard benefit would have been in the past. Tax SS as normal income beyond that amount(it would go in PRE tax).

6. Use inevitable extra realized revenue from #5 to fund safety net for the mrons in #3.

Not with DOGE cleaning all the massive fraud, no.

Why wasn't each person's account set up individually and that way whatever you put in you get instead of pooling the money?

quote:

---

Yeah it’s a Ponzi scheme that’s almost bankrupt of course it’s gonna end. In fact this entire government is going to collapse completely

---

Man, you're accumulating the downvotes but you're accurate.

I don't know how people think we can keep sustaining when me keep spending more and more and making less and less. Our annual deficit now exceeds our GDP. That's bankruptcy. But we keep on printing money as if we're not just devaluing currency and kicking the can harder against the wall. We're screwed

quote:

---

Reader's digest version

1. Like Bush's idea, will require up front money. Grandfather out of SS current set up into the money you put in actually going into an account in YOUR NAME that you can control where it is invested. You want it in a money market for 60 years? Have at it. Funds? OK. Probably not individual stocks but hey.

2. This money would still be mandatory withdrawal just like SS now. And, only removable at retirement age, like SS now unless you die. If you die, this money will be treated like any other asset a person might have to leave to family which is benefit #1.

3. Yes, SOME citizens will STILL manage to frick this up. And, they'll manage to figure out how to invest so poorly, they are somehow worse off than if they'd just been in SS. HOWEVER>...........see #4

4. In all likelihood, the amount of returns generated by the majority of citizens will dwarf their current benefits situation.

So, how to use #3 and 4 together?

5. Calculate what the standard benefit would have been in the past. Tax SS as normal income beyond that amount(it would go in PRE tax).

6. Use inevitable extra realized revenue from #5 to fund safety net for the mrons in #3.

---

Very reasonable .... except SS was never intended as a Citizen's Retirement Benefit.

It was designed by FDR to force citizens to lend the Feds money .... then it was brilliantly propagandized by FDR as a retirement security benefit.

In designing SS, FDR basically said, "I'm going to force you to lend DC money for your entire working career. I'm not going to pay you a penny back on that loan for up to 50 years. When I do pay you back, it will be at a terrible ROI. But you will be told DC's payback of the money you lent is your retirement "benefit."

---

SS is like you walking into a bank. Ordering the loan officer to give you a loan at a very low rate which you stipulate, on payback terms not to begin for decades. Then informing him that when you do eventually get around to begin repayment, your repayments will be designated benefits for he and the bank.

IF you could do that, would you EVER give up the ability to continue doing it?

THAT is why SS will never end.

quote:

---

I actually have had an idea on SS for about 20 years

---

I have actually also had a way to fix Social Security and it is a simple fix where a person is given $10,000 as soon as they register for Social Security And that money is invested over time

You are only required to pay back the $10,000 for Social Security And then you no longer pay into that system

If you pass away before 55 the money revert back to social security

After 55 It becomes vested

You would eliminate Medicare and welfare in one generation which would more than pay for the initial investment

quote:

---

If you invest that same amount of money over time in an avg S&P index fund you would be looking at easily $15/20K per month or more vs $3K w/ social secuity.

---

And, that kind of extra money flowing would increase the price of goods exponentially.